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Business Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2025
Segment Reporting [Abstract] |
Schedule of Revenues and Expenses by Reportable Segment | Schedule of Revenues and Expenses by Reportable Segment
|  | For the Three Months Ended June 30, 2025 |
|  | Life |  |  | Cemetery/ |  |  |  |  |  |  |
|  | Insurance |  |  | Mortuary |  |  | Mortgage |  |  | Total |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
From external sources: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenue from external customers |  | $ | 30,185,854 |  |  | $ | 7,257,717 |  |  | $ | 29,485,104 |  |  | $ | 66,928,675 |
Net investment income |  |  | 19,999,873 |  |  |  | 465,425 |  |  |  | 115,690 |  |  |  | 20,580,988 |
Gains (losses) on investments and other assets |  |  | 873,261 |  |  |  | 271,176 |  |  |  | (1,730 | ) |  |  | 1,142,707 |
Other revenues |  |  | 465,668 |  |  |  | 146,243 |  |  |  | 276,868 |  |  |  | 888,779 |
Intersegment revenues |  |  | 1,828,343 |  |  |  | 84,767 |  |  |  | 74,557 |  |  |  | 1,987,667 |
Total segment revenues |  |  | 53,352,999 |  |  |  | 8,225,328 |  |  |  | 29,950,489 |  |  |  | 91,528,816 |
Elimination of intersegment revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,987,667 | )
Total consolidated revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 89,541,149 |
Less: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Death benefits |  |  | 15,021,638 |  |  |  | - |  |  |  | - |  |  |  |  |
Surrenders and other policy benefits |  |  | 1,231,654 |  |  |  | - |  |  |  | - |  |  |  |  |
Increase in future policy benefits |  |  | 8,800,130 |  |  |  | - |  |  |  | - |  |  |  |  |
Amortization of deferred policy and pre-need acquisition costs and value of business acquired |  |  | 5,584,263 |  |  |  | 153,412 |  |  |  | - |  |  |  |  |
Selling, general and administrative expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commissions |  |  | 1,076,858 |  |  |  | 580,026 |  |  |  | 11,808,454 |  |  |  |  |
Personnel |  |  | 8,397,298 |  |  |  | 2,673,778 |  |  |  | 11,100,269 |  |  |  |  |
Advertising |  |  | 126,294 |  |  |  | 142,609 |  |  |  | 671,545 |  |  |  |  |
Rent and rent related |  |  | 78,960 |  |  |  | 35,956 |  |  |  | 822,223 |  |  |  |  |
Depreciation on property and equipment |  |  | 219,873 |  |  |  | 223,184 |  |  |  | 155,961 |  |  |  |  |
Cost related to funding mortgage loans |  |  | - |  |  |  | - |  |  |  | 1,891,789 |  |  |  |  |
Data processing and IT related (1) |  |  | 312,143 |  |  |  | 74,406 |  |  |  | 899,009 |  |  |  |  |
Premium taxes on insurance premiums and other considerations (1) |  |  | 734,203 |  |  |  | - |  |  |  | - |  |  |  |  |
Other segment items (1)(2) |  |  | 2,402,646 |  |  |  | 1,303,824 |  |  |  | 2,229,404 |  |  |  |  |
Intersegment expenses (3) |  |  | 159,256 |  |  |  | 84,485 |  |  |  | 1,743,926 |  |  |  |  |
Interest expense |  |  | 993,830 |  |  |  | 147 |  |  |  | 299,461 |  |  |  |  |
Costs of goods and services sold-mortuaries and cemeteries |  |  | - |  |  |  | 1,159,283 |  |  |  | - |  |  |  |  |
Income tax expense (benefit) |  |  | 1,811,081 |  |  |  | 429,866 |  |  |  | (410,683 | ) |  |  |  |
Segment net earnings (loss) |  |  | 6,402,872 |  |  |  | 1,364,352 |  |  |  | (1,260,869 | ) |  |  | 6,506,355 |
Net earnings |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 6,506,355 |
(1) | Included in other expenses on the condensed consolidated statements of earnings. Data processing and IT related expenses includes various software subscriptions, maintenance, consulting, support and storage fees.
(2) | For each reportable segment, other segment items includes:
Life Insurance - bad debt, insurance expenses, professional service expenses, state insurance department fees, amortization of intangible assets, and certain overhead expenses. Cemetery/Mortuary - bad debt, insurance expenses, professional service expenses, maintenance and utility expenses, property taxes, amortization of intangible assets, and certain overhead expenses. Mortgage - bad debt, insurance expenses, professional service expenses, business license and registration fees, dues and subscriptions, amortization expense of mortgage servicing rights, and certain overhead expenses.
(3) | For each reportable segment, intersegment expenses includes:
Life Insurance - mortgage servicing fees and interest expense. Cemetery/Mortuary - rent expense, data processing and IT related expenses, and interest expense. Mortgage - rent expense and interest expense. SECURITY NATIONAL FINANCIAL CORPORATION AND SUBSIDIARIES Notes to Condensed Consolidated Financial Statements June 30, 2025 (Unaudited)
7) | Business Segment Information (Continued)
|  | For the Three Months Ended June 30, 2024 |
|  | Life |  |  | Cemetery/ |  |  |  |  |  |  |
|  | Insurance |  |  | Mortuary |  |  | Mortgage |  |  | Total |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
From external sources: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenue from external customers |  | $ | 29,960,558 |  |  | $ | 7,768,947 |  |  | $ | 29,619,516 |  |  | $ | 67,349,021 |
Net investment income |  |  | 17,184,071 |  |  |  | 574,957 |  |  |  | 285,780 |  |  |  | 18,044,808 |
Gains (losses) on investments and other assets |  |  | (210,594 | ) |  |  | (202,810 | ) |  |  | 36,165 |  |  |  | (377,239 | )
Other revenues |  |  | 303,280 |  |  |  | 136,774 |  |  |  | 334,692 |  |  |  | 774,746 |
Intersegment revenues |  |  | 1,905,973 |  |  |  | 84,767 |  |  |  | 144,989 |  |  |  | 2,135,729 |
Total segment revenues |  |  | 49,143,288 |  |  |  | 8,362,635 |  |  |  | 30,421,142 |  |  |  | 87,927,065 |
Elimination of intersegment revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (2,135,729 | )
Total consolidated revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 85,791,336 |
Less: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Death benefits |  |  | 14,070,165 |  |  |  | - |  |  |  | - |  |  |  |  |
Surrenders and other policy benefits |  |  | 1,042,940 |  |  |  | - |  |  |  | - |  |  |  |  |
Increase in future policy benefits |  |  | 9,212,937 |  |  |  | - |  |  |  | - |  |  |  |  |
Amortization of deferred policy and pre-need acquisition costs and value of business acquired |  |  | 4,105,564 |  |  |  | 195,825 |  |  |  | - |  |  |  |  |
Selling, general and administrative expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commissions |  |  | 1,457,231 |  |  |  | 546,821 |  |  |  | 11,448,789 |  |  |  |  |
Personnel |  |  | 7,285,612 |  |  |  | 2,553,252 |  |  |  | 10,963,712 |  |  |  |  |
Advertising |  |  | 115,381 |  |  |  | 150,937 |  |  |  | 519,899 |  |  |  |  |
Rent and rent related |  |  | 123,067 |  |  |  | 39,148 |  |  |  | 1,135,024 |  |  |  |  |
Depreciation on property and equipment |  |  | 225,182 |  |  |  | 208,727 |  |  |  | 158,990 |  |  |  |  |
Cost related to funding mortgage loans |  |  | - |  |  |  | - |  |  |  | 1,533,881 |  |  |  |  |
Data processing and IT related (1) |  |  | 216,829 |  |  |  | 54,186 |  |  |  | 852,711 |  |  |  |  |
Premium taxes on insurance premiums and other considerations (1) |  |  | 759,265 |  |  |  | - |  |  |  | - |  |  |  |  |
Other segment items (1)(2) |  |  | 2,208,425 |  |  |  | 1,195,248 |  |  |  | 1,712,720 |  |  |  |  |
Intersegment expenses (3) |  |  | 228,864 |  |  |  | 92,296 |  |  |  | 1,814,569 |  |  |  |  |
Interest expense |  |  | 927,112 |  |  |  | 216 |  |  |  | 146,488 |  |  |  |  |
Costs of goods and services sold-mortuaries and cemeteries |  |  | - |  |  |  | 1,235,459 |  |  |  | - |  |  |  |  |
Income tax expense (benefit) |  |  | 1,548,019 |  |  |  | 522,022 |  |  |  | 48,003 |  |  |  |  |
Segment net earnings |  |  | 5,616,695 |  |  |  | 1,568,498 |  |  |  | 86,356 |  |  |  | 7,271,549 |
Net earnings |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 7,271,549 |
(1) | Included in other expenses on the condensed consolidated statements of earnings. Data processing and IT related expenses includes various software subscriptions, maintenance, consulting, support and storage fees.
(2) | For each reportable segment, other segment items includes:
Life Insurance - bad debt, insurance expenses, professional service expenses, state insurance department fees, amortization of intangible assets, and certain overhead expenses. Cemetery/Mortuary - bad debt, insurance expenses, professional service expenses, maintenance and utility expenses, property taxes, amortization of intangible assets, and certain overhead expenses. Mortgage - bad debt, insurance expenses, professional service expenses, business license and registration fees, dues and subscriptions, amortization expense of mortgage servicing rights, and certain overhead expenses.
(3) | For each reportable segment, intersegment expenses includes:
Life Insurance - mortgage servicing fees and interest expense. Cemetery/Mortuary - rent expense, data processing and IT related expenses, and interest expense. Mortgage - rent expense and interest expense. SECURITY NATIONAL FINANCIAL CORPORATION AND SUBSIDIARIES Notes to Condensed Consolidated Financial Statements June 30, 2025 (Unaudited)
7) | Business Segment Information (Continued)
|  | For the Six Months Ended June 30, 2025 |
|  | Life |  |  | Cemetery/ |  |  |  |  |  |  |
|  | Insurance |  |  | Mortuary |  |  | Mortgage |  |  | Total |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
From external sources: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenue from external customers |  | $ | 59,965,379 |  |  | $ | 14,557,938 |  |  | $ | 54,294,345 |  |  | $ | 128,817,662 |
Net investment income |  |  | 38,630,818 |  |  |  | 886,678 |  |  |  | 266,116 |  |  |  | 39,783,612 |
Gains on investments and other assets |  |  | 1,163,795 |  |  |  | 481,146 |  |  |  | 83,787 |  |  |  | 1,728,728 |
Other revenues |  |  | 1,051,266 |  |  |  | 334,093 |  |  |  | 565,511 |  |  |  | 1,950,870 |
Intersegment revenues |  |  | 3,148,266 |  |  |  | 168,603 |  |  |  | 196,425 |  |  |  | 3,513,294 |
Total segment revenues |  |  | 103,959,524 |  |  |  | 16,428,458 |  |  |  | 55,406,184 |  |  |  | 175,794,166 |
Elimination of intersegment revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (3,513,294 | )
Total consolidated revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 172,280,872 |
Less: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Death benefits |  |  | 31,067,103 |  |  |  | - |  |  |  | - |  |  |  |  |
Surrenders and other policy benefits |  |  | 2,433,209 |  |  |  | - |  |  |  | - |  |  |  |  |
Increase in future policy benefits |  |  | 17,788,187 |  |  |  | - |  |  |  | - |  |  |  |  |
Amortization of deferred policy and pre-need acquisition costs and value of business acquired |  |  | 10,106,833 |  |  |  | 327,377 |  |  |  | - |  |  |  |  |
Selling, general and administrative expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commissions |  |  | 1,939,201 |  |  |  | 788,446 |  |  |  | 21,176,072 |  |  |  |  |
Personnel |  |  | 16,923,486 |  |  |  | 5,211,804 |  |  |  | 22,218,463 |  |  |  |  |
Advertising |  |  | 226,270 |  |  |  | 294,218 |  |  |  | 1,243,905 |  |  |  |  |
Rent and rent related |  |  | 178,750 |  |  |  | 73,994 |  |  |  | 1,673,006 |  |  |  |  |
Depreciation on property and equipment |  |  | 462,685 |  |  |  | 435,545 |  |  |  | 315,923 |  |  |  |  |
Cost related to funding mortgage loans |  |  | - |  |  |  | - |  |  |  | 3,307,041 |  |  |  |  |
Data processing and IT related (1) |  |  | 547,931 |  |  |  | 144,932 |  |  |  | 1,777,119 |  |  |  |  |
Premium taxes on insurance premiums and other considerations (1) |  |  | 1,452,274 |  |  |  | - |  |  |  | - |  |  |  |  |
Other segment items (1)(2) |  |  | 5,027,184 |  |  |  | 2,535,034 |  |  |  | 3,871,848 |  |  |  |  |
Intersegment expenses (3) |  |  | 364,814 |  |  |  | 171,926 |  |  |  | 2,976,554 |  |  |  |  |
Interest expense |  |  | 1,900,277 |  |  |  | 310 |  |  |  | 512,379 |  |  |  |  |
Costs of goods and services sold-mortuaries and cemeteries |  |  | - |  |  |  | 2,412,553 |  |  |  | - |  |  |  |  |
Income tax expense (benefit) |  |  | 2,992,292 |  |  |  | 964,710 |  |  |  | (894,136 | ) |  |  |  |
Segment net earnings (loss) |  |  | 10,549,028 |  |  |  | 3,067,609 |  |  |  | (2,771,990 | ) |  |  | 10,844,647 |
Net earnings |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 10,844,647 |
Segment assets |  | $ | 1,382,976,345 |  |  | $ | 101,407,961 |  |  | $ | 86,674,977 |  |  | $ | 1,571,059,283 |
Elimination of intersegment assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (27,081,176 | )
Total consolidated assets |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 1,543,978,107 |
Expenditures for long-lived assets |  | $ | 38,588,008 |  |  | $ | 535,256 |  |  | $ | 253,231 |  |  | $ | 39,376,495 |
(1) | Included in other expenses on the condensed consolidated statements of earnings. Data processing and IT related expenses includes various software subscriptions, maintenance, consulting, support and storage fees.
(2) | For each reportable segment, other segment items includes:
Life Insurance - bad debt, insurance expenses, professional service expenses, state insurance department fees, amortization of intangible assets, and certain overhead expenses. Cemetery/Mortuary - bad debt, insurance expenses, professional service expenses, maintenance and utility expenses, property taxes, amortization of intangible assets, and certain overhead expenses. Mortgage - bad debt, insurance expenses, professional service expenses, business license and registration fees, dues and subscriptions, amortization expense of mortgage servicing rights, and certain overhead expenses.
(3) | For each reportable segment, intersegment expenses includes:
Life Insurance - mortgage servicing fees and interest expense. Cemetery/Mortuary - rent expense, data processing and IT related expenses, and interest expense. Mortgage - rent expense and interest expense. SECURITY NATIONAL FINANCIAL CORPORATION AND SUBSIDIARIES Notes to Condensed Consolidated Financial Statements June 30, 2025 (Unaudited)
7) | Business Segment Information (Continued)
|  | For the Six Months Ended June 30, 2024 |
|  | Life |  |  | Cemetery/ |  |  |  |  |  |  |
|  | Insurance |  |  | Mortuary |  |  | Mortgage |  |  | Total |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
From external sources: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Revenue from external customers |  | $ | 59,812,651 |  |  | $ | 14,717,438 |  |  | $ | 51,451,186 |  |  | $ | 125,981,275 |
Net investment income |  |  | 35,796,434 |  |  |  | 1,659,149 |  |  |  | 535,793 |  |  |  | 37,991,376 |
Gains on investments and other assets |  |  | 877,899 |  |  |  | 379,352 |  |  |  | 34,936 |  |  |  | 1,292,187 |
Other revenues |  |  | 720,966 |  |  |  | 309,507 |  |  |  | 684,223 |  |  |  | 1,714,696 |
Intersegment revenues |  |  | 3,285,548 |  |  |  | 169,535 |  |  |  | 291,595 |  |  |  | 3,746,678 |
Total segment revenues |  |  | 100,493,498 |  |  |  | 17,234,981 |  |  |  | 52,997,733 |  |  |  | 170,726,212 |
Elimination of intersegment revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (3,746,678 | )
Total consolidated revenues |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 166,979,534 |
Less: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Death benefits |  |  | 29,783,918 |  |  |  | - |  |  |  | - |  |  |  |  |
Surrenders and other policy benefits |  |  | 2,258,733 |  |  |  | - |  |  |  | - |  |  |  |  |
Increase in future policy benefits |  |  | 18,558,824 |  |  |  | - |  |  |  | - |  |  |  |  |
Amortization of deferred policy and pre-need acquisition costs and value of business acquired |  |  | 8,614,996 |  |  |  | 430,306 |  |  |  | - |  |  |  |  |
Selling, general and administrative expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commissions |  |  | 1,863,729 |  |  |  | 778,606 |  |  |  | 18,791,723 |  |  |  |  |
Personnel |  |  | 14,516,920 |  |  |  | 4,862,978 |  |  |  | 21,277,813 |  |  |  |  |
Advertising |  |  | 222,877 |  |  |  | 278,614 |  |  |  | 972,381 |  |  |  |  |
Rent and rent related |  |  | 229,627 |  |  |  | 79,429 |  |  |  | 2,389,660 |  |  |  |  |
Depreciation on property and equipment |  |  | 449,259 |  |  |  | 415,332 |  |  |  | 315,757 |  |  |  |  |
Cost related to funding mortgage loans |  |  | - |  |  |  | - |  |  |  | 2,982,976 |  |  |  |  |
Data processing and IT related (1) |  |  | 423,128 |  |  |  | 120,986 |  |  |  | 1,804,933 |  |  |  |  |
Premium taxes on insurance premiums and other considerations (1) |  |  | 1,520,224 |  |  |  | - |  |  |  | - |  |  |  |  |
Other segment items (1)(2) |  |  | 4,038,531 |  |  |  | 2,428,425 |  |  |  | 2,949,067 |  |  |  |  |
Intersegment expenses (3) |  |  | 460,238 |  |  |  | 186,320 |  |  |  | 3,100,120 |  |  |  |  |
Interest expense |  |  | 1,858,271 |  |  |  | 456 |  |  |  | 242,563 |  |  |  |  |
Costs of goods and services sold-mortuaries and cemeteries |  |  | - |  |  |  | 2,509,588 |  |  |  | - |  |  |  |  |
Income tax expense (benefit) |  |  | 3,365,088 |  |  |  | 1,308,876 |  |  |  | (411,131 | ) |  |  |  |
Segment net earnings (loss) |  |  | 12,329,135 |  |  |  | 3,835,065 |  |  |  | (1,418,129 | ) |  |  | 14,746,071 |
Net earnings |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 14,746,071 |
Segment assets |  | $ | 1,302,401,062 |  |  | $ | 91,353,123 |  |  | $ | 96,262,785 |  |  | $ | 1,490,016,970 |
Elimination of intersegment assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (29,292,449 | )
Total consolidated assets |  |  |  |  |  |  |  |  |  |  |  |  |  | $ | 1,460,724,521 |
Expenditures for long-lived assets |  | $ | 27,906,115 |  |  | $ | 254,644 |  |  | $ | 85,411 |  |  | $ | 28,246,170 |
(1) | Included in other expenses on the condensed consolidated statements of earnings. Data processing and IT related expenses includes various software subscriptions, maintenance, consulting, support and storage fees.
(2) | For each reportable segment, other segment items includes:
Life Insurance - bad debt, insurance expenses, professional service expenses, state insurance department fees, amortization of intangible assets, and certain overhead expenses. Cemetery/Mortuary - bad debt, insurance expenses, professional service expenses, maintenance and utility expenses, property taxes, amortization of intangible assets, and certain overhead expenses. Mortgage - bad debt, insurance expenses, professional service expenses, business license and registration fees, dues and subscriptions, amortization expense of mortgage servicing rights, and certain overhead expenses.
(3) | For each reportable segment, intersegment expenses includes:
Life Insurance - mortgage servicing fees and interest expense. Cemetery/Mortuary - rent expense, data processing and IT related expenses, and interest expense. Mortgage - rent expense and interest expense.

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- Definition Tabular disclosure of information concerning material long-lived assets (excluding financial instruments, customer relationships with financial institutions, mortgage and other servicing rights, deferred policy acquisition costs, and deferred taxes assets) located in identified geographic areas and/or the amount of revenue from external customers attributed to that country from which revenue is material. An entity may also provide subtotals of geographic information about groups of countries. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(1)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41 + Details
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